#48 Barbey family

#48 Barbey family

2015 America's Richest Families NET WORTH

$6.1B

as of 7/1/15

The roots of this family fortune date back to 1899, when a banker named John Barbey and five partners started the Reading Glove and Mitten Manufacturing Company in Pennsylvania. Using profits from his father's Sunshine Beer, Barbey bought out his partners and expanded into underwear (though he banned the term). In 1939, his son John Edward "J.E." Barbey became vice president of the company, then known as Vanity Fair Silk Mills. After he took it public in 1951, the family was no longer involved in operations. Today, fewer than a dozen members of the Barbey family still own nearly 20% of VF Corporation (as it was renamed in 1969). It's one of the world's largest apparel firms, with $12 billion in revenues and brands such as Lee, Wrangler and North Face.